The NAFTA agreement and the CAFTA-DR agreement are examples of:
A)Defunct bilateral agreements
B)Regional trade agreements
C)Plurilateral agreements
D)Proposed bilateral agreements

Question

Quizplus · Accepted Answer

Partly as a result of the slow progress in multilateral trade negotiations, the United States and many other countries have pursued bilateral and regional trade agreements. The United States, Canada, and Mexico make up the North American Free Trade Agreement (NAFTA), which in essence has removed all barriers to trade among these countries and created a huge North American market. Other regional and bilateral trade agreements, including the U.S.-Central American Free Trade Agreement (CAFTA), later renamed CAFTA-DR to reflect the inclusion of the Dominican Republic in the agreement and concluded in May 2004, were negotiated in the same spirit as NAFTA.

The NAFTA Agreement and the CAFTA-DR Agreement Are Examples Of